Reconnaissance Energy Africa (CVE:RECO) Trading 37.5% Higher – Still a Buy?

by · The Markets Daily

Reconnaissance Energy Africa Ltd. (CVE:RECO – Get Free Report)’s stock price was up 37.5% on Wednesday . The stock traded as high as C$0.76 and last traded at C$0.66. Approximately 7,918,963 shares were traded during trading, an increase of 1,851% from the average daily volume of 405,819 shares. The stock had previously closed at C$0.48.

Reconnaissance Energy Africa Stock Performance

The company has a 50-day moving average of C$0.48 and a 200-day moving average of C$0.51. The firm has a market capitalization of C$222.78 million, a price-to-earnings ratio of 2.13 and a beta of -0.19.

Reconnaissance Energy Africa Company Profile

(Get Free Report)

Reconnaissance Energy Africa Ltd., a junior oil and gas company, engages in exploration and development of oil and gas properties in Namibia and Botswana. The company holds a 90% interest in a petroleum exploration license that covers an area of approximately 25,341.33 square kilometer located in Namibia; and 100% working interest in a petroleum license, which covers an area of 8,990 square kilometer located in northwestern Botswana.

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